Resource News

Mineweb reported that production of high grade silver at Black Mountain’s New Departure property will be happening in the next few weeks.

Mineweb reported that production of high grade silver at Black Mountain’s New Departure property will be happening in the next few weeks.

As quoted in the Mineweb report:

What the company emphasises is that the cost of bringing these operations into production is very low – less than $10 million – and grades are high offering a potentially rapid payback if all goes well. The resources the company quotes are historic – it does not have an NI 43-101 or JORC compliant resource for them which will raise some flags and means it is moving forwards on something of a wing and a prayer, but is proceeding nonetheless pointing out that developing such resource estimates on high grade vein deposits of this type requires a huge amount of drilling and can be very expensive, detracting from the overall value of what, on the current historic resources could be relatively short life operations. It does note though that the limited exploration work it has been doing supports the historic resource assessments. Overall the company reckons to have a total resource across the three properties of 14.5 million ounces of silver equivalent at a grade of around 600 g/tonne (18.6 oz/tonne).

To view the whole Mineweb report, click here.

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